Here’s the spooky part, (well, maybe not) the concept of the metaverse rolled off writer Neal Stephenson’s pen thirty years ago in his book Snow Crash.
The Sci-fi thriller takes place in a post-world-economic collapse in the 21st century. Gone is the American way of life. The new reality resembles the survival of the fittest model, where the one with the biggest weapons wins.
Longing to escape the horrors of real life, people turn to a virtual world with avatars in an exciting, thriving community. (Sound familiar? Think Ready Player one)
Nearly one-quarter into the 21st century, Stephenson’s world is here. Although the real-world portion of his book is different, virtual reality is spot-on.
“As a journalism professor who has been researching the future of immersive media, I agree the metaverse opens up transformative opportunities.” Adrian Ma, Assistant Professor, Journalism, Toronto Metropolitan University
The Metaverse is not only opening up “transformative opportunities,” it is changing the landscape of business, marketing, and commerce.
The Metaverse reality is here.
Rec Room and Horizon Worlds are two popular virtual reality games. Avatars interact to manipulate and change their virtual reality environment.
(learn more from my article: Crypto gaming)
Epic Games announces a $1 billion investment to fund future metaverses.
The NFT marketplace, OpenSea, announces $300 million in funding, increasing the popular marketplace’s value to over $13 billion.
The software company Nvidia is developing Nvidia Omiverse, billing it as “delivering the foundation of the metaverse.”
Decentraland and Sandbox (some early metaverse pioneers) have seen the rise of virtual land ownership in their respective sites. (Something else mentioned in Stephenson’s book)
The Metaverse
The Metaverse is a virtual reality-based world (independent of our real world) that enables everyday people to engage in various virtual experiences. (article: What will you do with the metaverse?)
Although gaming is part of the Metaverse, its expansion is reaching out to the real world.
Facebook hosted Metaverse concerts. Although poorly attended, the concept is a reality.
The Atlanta Braves released plans to build a Metaverse version of Truist Park (their home stadium).
England’s Manchester City soccer team announced similar plans with their Etihad Stadium.
The reality is that there are multiple Metaverses, each with its digital economy. (learn more from my article: Ready to invest in the metaverse? Here’s what you need to know.)
Adrian Ma (Assistant Professor, Journalism, Toronto Metropolitan University) sees challenges in the Metaverses mainstream adaption. Although equipment prices have decreased, the several hundred-dollar investments for a headset are steep for the everyday purchaser. Today’s metaverses currently operate independently of the other, which lends itself to an isolated event, the need to create multiple avatars (one for each Metaverse).
“It is highly likely there will be a myriad of different Metaverses to join depending on specific interests or membership opportunities. In fact, one may have to join several metaverses in order to interact with different groups of friends.” David McGlew Openet
The Future
There is evidence supporting a two-front Metaverse. The first is the gaming Metaverse, and the second is the workplace Metaverse. The gaming space is already moving forward with companies like Decentraland and Sandbox, but the workplace Metaverse isn’t taking a backseat. Facebook introduced Workplace in 2016. It is a tool enabling business collaboration. Although it hasn’t caught on in the business community, the platform is fully functional.
Microsoft (more commonly used by businesses) offers virtual workspace collaboration software solutions.
Why you should embrace the Metaverse
Globally humanity is becoming more and more digital. The digital world enables a global community on an unprecedented scale. The Metaverse offers such an opportunity globally connect humanity in an eco-friendly way without incurring massive transportation costs or carbon footprints.
The Metaverse is growing in both individual and corporate arenas. Such growth represents jobs and investment opportunities. These jobs represent the future of humanity, while the investment opportunities represent the potential for financial freedom for everyday people.
Who knows what the future holds? A cataclysmic event could change instantly change everything. But as long as there is electricity, the future is digital, and the Metaverse is a part of it.
Follow along as I learn; maybe you, too, will learn. Perhaps, together, we can explore the cryptoverse.
Disclaimer: I am an avid student of all things crypto. The cryptoverse caught my attention when COVID-19 captured the world and locked down the global economy. Since then, I have dedicated a portion of my time to learn about this currency — the currency of the future — and international business. As a writer, I have determined to journal my discoveries. I have chosen to write them in short, bite-sized articles to help anyone interested in learning about this space. These articles are not written in cryptoese or investments but easy-to-understand articles. I am not offering advice, simply the information I discovered on my unexpected journey into the cryptoverse. There could be something for the seasoned investor to glean from reading, but my focus is on the crypto-curious.
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Understanding the Metaverse and why you should embrace it was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.